$7,900,000
$350K PRICE DROP

1215 Cacique St Santa Barbara, CA 93103

Eastside Neighborhood

Estimated payment $51,993/month

Total Views 7,670
-- Bed
-- Bath
11,300 Sq Ft
$699 Price per Sq Ft

Highlights

  • 0.67 Acre Lot
  • Santa Barbara Senior High School Rated A-
  • Laundry Room

About This Home

We are pleased to present Sycamore Creek Apartments, an 18-unit multifamily investment opportunity in Santa Barbara, CA.

Situated on a 29,185 SF lot, the property consists of three buildings with 16 one-bedroom units, a two-bedroom apartment, and a standalone two-bedroom house with a den.

The property has undergone over $500,000 in capital improvements (2022-2025), including new roofs, a repaved parking lot, brand-new sewer laterals, exterior repainting, and SB 721-compliant balcony replacements. With minimal deferred maintenance, an investor can focus on maximizing rents and long-term appreciation. Also, There is a highly attractive assumable Chase Bank loan is in place through August 2027.

Listing Agent

Filip Niculete

Marcus and Millichap License #01905352

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1989

Lot Details

  • 0.67 Acre Lot
  • Property is in good condition

Interior Spaces

  • 11,300 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Parking

  • 12 Open Parking Spaces
  • 15 Parking Spaces
  • 3 Carport Spaces

Schools

  • Cleveland Elementary School
  • S.B. Jr. Middle School
  • S.B. Sr. High School

Utilities

  • Shared Gas Meter
  • Individual Gas Meter

Listing and Financial Details

  • Assessor Parcel Number 017-222-020
  • Seller Considering Concessions

Community Details

Overview

  • 18 Units

Building Details

  • Operating Expense $173,153
  • Gross Income $603,636
  • Net Operating Income $420,809

Property Details

Home Type

Multi-Family

Year Built

Built in 1989

Lot Details

0

Listing Details

  • Prop. Type: ResidentialIncome
  • Year Built: 1989
  • Income Expenses Annual Income: 603636.0
  • Capitalization Rate: 5.33%
  • Gross Rent Multiplier: 13.09
  • Annual Expenses: 173153.0
  • Monthly Income: 50303.0
  • Meters Sep Meter Elec: Y
  • Meters Sep Meter Gas: Yes
  • Meters Sep Meter Wtr: N
  • Miscellaneous Parking Spaces: 15.0
  • Building Stories: 2
  • ResoLaundryFeatures: Laundry Room
  • New Construction: No
  • Reso Property Condition: Good
  • Property Information Year Built2: 1989
  • Property Information Apx # Acres: 0.67
  • NeighborhoodSchools Elementary School: Cleveland
  • NeighborhoodSchools Junior High School: S.B. Jr.
  • NeighborhoodSchools High School: S.B. Sr.
  • Parking Info Total # Carport Spaces2: 3.0
  • Parking Info Total # Unconvered Spaces: 12.0
  • Laundry Laundry Room2: Yes
  • Property Information Main House SqFt: 11300.0
  • Property Information Apx Lot SqFt: 29185.0
  • Condition Good2: Yes
  • General Property Information Stories2: 2.0
  • Income Expenses Actual: Yes
  • IncomeExpenses NOI2: 420,809
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Exterior Features

  • Acres: 0.67

Garage/Parking

  • Open Parking Spaces: 12.0
  • Total Parking Spaces: 15.0

Schools

  • Elementary School: Cleveland
  • High School: S.B. Sr.
  • Middle Or Junior School: S.B. Jr.

Lot Info

  • Parcel #: 017-222-020
  • Zoning: R-3
  • Lot Size Sq Ft: 29185.0

Multi Family

  • Number Of Units Total: 18
  • Annual Gross Income: 603636.0
  • Annual Operating Expense: 173153.0
  • Total Actual Rent: 50303.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/26/2025 03/26/25 Price Changed $7,900,000 -4.2% $699 / Sq Ft
02/28/2025 02/28/25 For Sale $8,250,000 0.0% $730 / Sq Ft
11/09/2022 11/09/22 Rented $2,650 -3.6% --
10/25/2022 10/25/22 Price Changed $2,750 -6.8% --
10/07/2022 10/07/22 Price Changed $2,950 -4.8% --
10/03/2022 10/03/22 For Rent $3,100 -- --
Source: Santa Barbara Multiple Listing Service

Source: Santa Barbara Multiple Listing Service

MLS Number: 25-873

Santa Barbara Multiple Listing Service

California Santa Barbara County Santa Barbara 93103 Eastside

1215 Cacique St, Santa Barbara, CA

Homes for Sale in Santa Barbara, CA

This home is located at 1215 Cacique St, Santa Barbara, CA 93103 and is currently priced at $7,900,000, approximately $699 per square foot. This property was built in 1989. 1215 Cacique St is a home located in Santa Barbara County with nearby schools including Cleveland Elementary School, Santa Barbara Junior High School, and Santa Barbara Senior High School.

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Filip Niculete
Listing Agent
Filip Niculete
Section Image
Marcus and Millichap
(805) 600-9012